Great Western Mining Corp. plc M2-Sharktooth Update and Assay Results (2026Z)
30 August 2018 - 4:00PM
UK Regulatory
TIDMGWMO
RNS Number : 2026Z
Great Western Mining Corp. plc
30 August 2018
Great Western Mining Corporation PLC
("Great Western Mining", "GWM" or the "Company")
M2-Sharktooth Update and Assay Results
Great Western Mining (AIM: GWMO and ESM: 8GW) announces assay
results for the M2-041 core samples from 450-509 metres (1480 to
1671 feet).
Anomalous copper, nickel and cobalt geochemistry was recorded
toward the bottom of the hole which was coincident with the
observed increasing silica alteration and magnetic intensity. The
Company believes this to be a strong indicator of (1) the multiple
hydrothermal flooding events observed in the altered breccia and
(2) the proximity of the mineralised diorite host rock below. The
significant M2-041 intersects are highlighted in the table
below:
Hole From To Interval Copper (Cu) Nickel Cobalt (Co)
(Ni)
(metres) (metres) (metres) (ppm) (ppm) (ppm)
M2-041 486.46 488.14 1.68 5515 1742 29
---------- ---------- ---------- ------------ ------- ------------
Hole M2-042 was spudded on Monday 27 August 2018. It is located
183 metres west of, and up the structural dip from, hole M2-041 and
is projected to intersect with the mineralised diorite at a depth
of approximately 360 metres.
As previously reported, drilling through the caprock and breccia
at M2-041 proved to be slower and more difficult than anticipated.
Therefore, the Company has introduced several operational changes
at M2-042, including a night shift, to speed up the rate of
drilling and improve performance.
Chief Executive David Fraser commented: "The mineralogic and
assay data from the bottom of M2-041 is very encouraging and a good
indicator that our geological model remains valid. We are confident
that our operational changes will greatly improve drilling
performance at M2-042 and look forward to reaching the mineralised
diorite target. As always we will keep shareholders updated as and
when relevant information becomes available."
Qualified Person
Donald G. Strachan is a Certified Professional Geologist
(CPG-10376) under the auspices of the American Institute of
Professional Geologists. Mr. Strachan is also a Fellow of the
Geologic Association of Canada, a Member of the Society of Economic
Geologists, and a Member of the Geological Society of Nevada. Mr
Strachan has sufficient experience, relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking, to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves' and as a Qualified Person as defined in the Note for
Mining and Oil & Gas Companies which form part of the AIM Rules
for Companies.
Mr Strachan has reviewed and approved the geological content of
this announcement.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Note: ppm = parts per million
ENQUIRIES:
Great Western Mining +44 207 933 8795 (via Walbrook)
Corporation PLC
David Fraser, Chief
Executive
Davy (Nomad, ESM Adviser
& Broker)
John Frain +353 1 679 6363
Novum Securities Limited
(Joint Broker)
Jon Belliss +44 207 399 9400
Walbrook PR (UK PR and +44 207 933 8795
IR) greatwesternmining@walbrookpr.com
Paul Cornelius
Nick Rome
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END
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